VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2010) - Nevsun Resources Ltd. ("Nevsun") (TSX:NSU)(NYSE Amex:NSU) is pleased to announce that it has completed its non-brokered private placement financing of 52,000,000 common shares at Cdn$2.25 as reported on February 4, 2010. The common shares sold in the private placement are subject to a Canadian hold period that expires on June 17, 2010. The common shares sold in the United States are subject to additional resale restrictions under the United States Securities Act of 1933, as amended (the "U.S. Securities Act").

The common shares have not been, nor will they be, registered under the U.S. Securities Act, and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an exemption therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States.